It is well known that people tend to eat higher quality diets containing more animal protein and vegoils when they migrate from farms to the cities. That has been a major reason for the phenomenal growth in China’s consumption of such since the early 1990s. Now it appears that a new government initiative will impact soy demand there in the future. Cheaper Soyoil Gains Increase in Indian Market The lower price of soyoil versus that of palm oil is allowing it to gain a much larger share of India’s growing vegoil demand. Over the last year, its premium over palm oil in the market there has declined by more than 50 percent to around $35/MT. That has made soyoil more affordable for Indian consumers who prefer to use that variety.USDA estimates...

TAGS – Feed Grains, Soy & Oilseeds, Wheat, Livestock, Asia